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Chapter11

All articles tagged with #chapter11

business1 month ago•15 min saved

QVC Group Turns to Chapter 11 to Restructure Debt and Embrace Social Shopping

QVC Group, owner of QVC, HSN and Cornerstone Brands, filed for Chapter 11 bankruptcy to reduce debt from about $6.6 billion to roughly $1.3 billion and shift from traditional TV shopping to live social-media retail. The voluntary filing in U.S. Bankruptcy Court aims to secure a more appropriate capital structure while keeping operations running, with ample liquidity, no planned layoffs, and a restructuring expected to wrap up in the summer. The company is part of Liberty Media and has consolidated QVC and HSN operations in recent years.

via Deadline|

#bankruptcy #business #chapter11

business1 month ago•304 min saved

QVC Group moves to Chapter 11 to cut heavy debt

QVC Group, the parent company of the home-shopping network QVC, filed for Chapter 11 bankruptcy to slash its debt from about $6.6 billion to $1.3 billion, while continuing to operate with no layoffs and vendors paid; the company aims to complete the restructuring in about 90 days and cites growth in its digital channels as a path back to sustainable expansion after years of competition from online shopping, streaming apps and tariffs, including its 2017 merger with HSN and a decline in traditional cable viewership.

via CNN|

#bankruptcy #business #chapter11

business2 months ago•15 min saved

iPic Theaters Files for Chapter 11 Again, Eyes Asset Sale

Luxury dine-in cinema chain iPic Theaters filed for Chapter 11 bankruptcy protection in Florida for a second time and is pursuing a court-supervised sale while continuing operations; the move comes as the company faces lighter release schedules, declining ticket sales, and pandemic-era costs. The chain, which runs eight restaurants and 13 dine‑in theaters across several states, reports assets estimated at roughly $10–$50 million, up to $10 million in liabilities, and a 2025 net loss of about $20 million on $112.5 million in gross revenue, with potential layoffs or theater closures during the process.

via Variety|

#bankruptcy #business #chapter11

business2 months ago•16 min saved

iPic Theaters Faces Bankruptcy, Pushing Sale as Luxury Cineplex Market Slows

Luxury theater chain iPic Theaters files for Chapter 11 bankruptcy protection, citing declining ticket sales and unfavorable box-office splits with studios, and is pursuing a court-supervised sale; the company plans mass layoffs and warned that additional theaters could close if a buyer cannot be found.

via The Hollywood Reporter|

#bankruptcy #business #chapter11

business1 year ago•3 min saved

Spirit Airlines' Bankruptcy Highlights Struggles in Budget Aviation

Spirit Airlines has filed for Chapter 11 bankruptcy, transferring control to its senior secured and convertible noteholders as part of a restructuring support agreement. This move aims to address over $1.6 billion in debt, with plans to eliminate $795 million of it and provide $840 million in new senior notes. The airline industry has seen significant distress, with numerous carriers shutting down since 2022. Spirit's bankruptcy follows a failed merger with Frontier Airlines and ongoing financial struggles.

via TheStreet|

#airlineindustry #bankruptcy #business

business-and-finance2 years ago•0 min saved

"Radio Powerhouse Audacy Seeks Chapter 11 Bankruptcy Amid Financial Struggles"

Audacy, a major U.S. radio and podcast company, has filed for Chapter 11 bankruptcy protection to cut down its debt by 80%, reducing it to approximately $350 million from $1.9 billion. The company's CEO, David Field, cited a "perfect storm" of economic challenges and a decline in traditional advertising revenue as the reasons for the financial strain. Audacy, which owns numerous radio stations including prominent ones like WFAN Sports Radio and New York's 1010 WINS, aims to restructure its balance sheet through this process.

via CNBC|

##audacy #bankruptcy

business-and-finance2 years ago•3 min saved

"Radio Powerhouse Audacy Seeks Bankruptcy Protection Amid Restructuring"

Audacy, the second-largest radio broadcaster in the U.S., has filed for Chapter 11 bankruptcy to reduce its debt by approximately $1.6 billion, an 80% decrease from its current $1.9 billion debt. The company plans to continue operations normally during the restructuring process and expects to emerge from bankruptcy with a stronger capital structure. Audacy's stock has been delisted from the NYSE and will trade over-the-counter during the reorganization. The bankruptcy plan is set for a court hearing in February, with the aim of obtaining regulatory approval from the FCC.

via Variety|

##audacy #bankruptcy

business-and-finance2 years ago•2 min saved

"Radio Powerhouse Audacy Files for Chapter 11, Strikes Deal to Slash Debt"

Audacy, a major U.S. radio company and owner of iconic stations like KROQ and KCBS, has filed for Chapter 11 bankruptcy protection. The company, which emerged from a merger between Entercom and CBS Radio in 2017, plans to reduce its debt by approximately 80%, from $1.9 billion to $350 million, through a restructuring agreement with its debt holders. Despite the bankruptcy, Audacy expects no operational impact and aims to continue its growth in the audio business, leveraging its multi-platform content and entertainment offerings.

via Hollywood Reporter|

##audacybankruptcy #business-and-finance